DSB Distribution of Approximately €650 Million Surplus Estate to Creditors after DSB’s Bankruptcy

Houthoff has advised DSB on the deal.

DSB completed the distribution (and its preparation of that) of approximately EUR 650 million surplus estate to creditors after DSB’s bankruptcy. These creditors have been entitled to claim interest since the end of DSB’s bankruptcy in December 2021.

In total, it concerns more than 280,000 interest claims from former DSB account holders and DNB as administrator of the deposit guarantee scheme. To enable efficient distribution, DSB applied for a suspension of payments after the bankruptcy and offered its creditors a winding-up arrangement. Applying the ‘Brandaris scheme’, which has only been used for the third time in the Netherlands, a committee was appointed which assessed and approved the arrangement. The court approved this arrangement at the end of May. The court decision became final on 3 June 2022, making the arrangement binding. DSB has opened a website where former account holders can claim their interest. In the course of June 2022, a broad media campaign will be rolled out for this purpose.

Houthoff’s core team advising DSB included Christiaan Zijderveld (Picture), Joost den Hollander, Ewoud van der Leek and Casper Kool. Frédéric Verhoeven, Karien Burg, Anne Sleurink, Thomas de Weerd, Nicole Bilderbeek, Philippe Stille and Thomas de Rave were also involved.

Involved fees earner: Nicole Bilderbeek – Houthoff; Karien Burg – Houthoff; Thomas de Rave – Houthoff; Thomas de Weerd – Houthoff; Joost den Hollander – Houthoff; Casper Kool – Houthoff; Anne Sleurink – Houthoff; Philippe Stille – Houthoff; Ewoud van der Leek – Houthoff; Frederic Verhoeven – Houthoff; Christiaan Zijderveld – Houthoff;

Law Firms: Houthoff;

Clients: DSB Bank;

Naoual Sadouqi

Author: Naoual Sadouqi